Aldermore supports Spring Ram to provide working capital

British challenger bank Aldermore has been appointed to provide working capital support to Spring Ram, a leading provider of jacuzzis, baths and sinks based in Bradford, West Yorkshire.

The company was recently acquired by The HLD Group, a UK industrial company, who turned to Aldermore as a financial partner to support the working capital of its new acquisition.

Spring Ram employs more than 220 staff in Bradford and also has a manufacturing plant in Malta, where it employs an additional 93 people. The company's products are sold through DIY stores and trade outlets and 80% of the firm's sales are within the UK domestic market, with the remainder being exported.

Demis Ohandjanian, CEO of The HLD Group said: "I am delighted to have the support of Aldermore as we continue to grow our business and employ more people at our Bradford office. I wanted to work with a bank that was willing to provide financial support to Spring Ram on an ongoing basis, and had heard about Aldermore when visiting one of their clients, who spoke very highly about their experience of working with them.

"Our experience of working with Aldermore over the first few months of 2013 has been brilliant. I have no hesitation recommending Aldermore to any firm seeking support from a progressive British bank. I would go further and suggest that firms seeking partners will struggle to find other banks with the helpful and SME-focused approach of Aldermore."

Peter Raybould, Associate Director of Aldermore, commented: "I would like to wish the team at Spring Ram every success for the future. We're delighted to have played our part in helping the acquisition by HLD take place and look forward to working closely with them over the coming years."

Further information about the HLD Group can be found at www.hldgrp.com.